- Goldman Sachs analyst Jerry Revich upgraded Clean Harbors Inc (NYSE:CLH) and Generac Holdings Inc. (NYSE:GNRC).
- The analyst upgraded Clean Harbors to Neutral from Sell and raised its price target to $120 (an upside of 8%), from $95.
- Revich mentioned that oil prices are 50% higher since the firm reinstated the company at Sell, providing a higher pricing point for its re-refined products.
- The analyst boosted his forecasts for the Safety-Kleen business and now expects 2022 EBITDA growth of 16% in the segment versus guidance and consensus.
- The analyst upgraded Generac to Buy from Neutral while maintaining the same price target of $410 (an upside of 27%). He also added GNRC to Goldman Sachs' Americas Buy list.
- Revich noted Generac's products are in the early phases of the adoption curve. The company offers a rising distribution "store count" footprint with the broadest product portfolio within its top products.
- The analyst mentioned that the risk of a cyclical downturn in the home stand-by business had kept him on the sidelines. He now believes that negative estimate revisions are priced in.
- Price Action: CLH shares are trading lower by 0.02% at $110.40 and GNRC higher by 0.02% at $315.49 on Tuesday's last check.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Goldman Sachs Turns Bullish On Generac; Upgrades Clean Harbors To Neutral
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks